Intimation of Request received for Reclassification from "Promoter and Promoter Group" Category to "Public" Category
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TTI Enterprise Ltd has received requests from two promoters, Mridula Mukundan and Venugopalan Sujith, to be reclassified from the 'Promoter and Promoter Group' category to the 'Public' category under Regulation 31A of SEBI LODR Regulations. Together, they hold 44,510 shares, representing just 0.18% of the company's equity (0.16% and 0.02% respectively). The promoters have confirmed they do not control the company, hold no board positions or key managerial roles, and will hold less than 10% voting rights going forward. The Board of Directors will consider the request, after which stock exchange approval will be needed for the reclassification to take effect.
This is a procedural reclassification rather than a stake sale — the shares remain with the same individuals but shift from the promoter category to public. The financial impact is minimal given the tiny 0.18% combined holding, though it technically reduces the formal promoter group shareholding and increases the public shareholding by the same margin.